Cost And Price Or the Product And the Market An Analysis of the Nature of Cos
Cost And Price Or the Product And the Market An Analysis of the Nature of Cos
Isaiah Skeels
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00 The actual cost of conversion for 1908, as compared with 1898 that is, labor, salaries, fixed expenses, etc. , with two furnaces in operation is as low as in 1898, notwithstanding that the wages paid labor are consider- ably higher than during 1898. The increased wag^s paid employees have been neutralized by the benefits de- rived by expenditures on capital account. While cost of fuel for 1908 per ton of iron shows $4 as compared with $3. 02 for 1898, the consumption of fuel per ton for 1908... was fully 300 pounds less prr ton of iron than for 1898. Attention is called to these items in order to show the practical value of expenditures on capital account, to improve the' efficiency of the furnaces, and to lower the cost of conversion, thus helping to pay the higher E IN LAND VALUES 119 In the fuel cost, it will be observed, the better capital expenditure made a saving of 300 pounds of coal per ton of iron, and yet the reduced quantity of coal cost 98 cents more in each ton of iron. In a table marked "Exhibit A, " Mr.
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